MIRA INFORM REPORT

 

 

Report Date :

17.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

PEARL ENTERPRISES

 

 

Registered Office :

House No. 5, Road No. 7,  Nobodya Housing Society, Mohhamadpur, Dhaka

 

 

Country :

Bangladesh

 

 

Financial as on :

2007

 

 

Date of Incorporation :

2000

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importer and Supplier of C.N.G Cyllinder

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

COMPANY DETAILS

 

Name:                                                   Pearl Enterprises

 

Address:                                   House No. 5, Road No. 7,

Nobodya Housing Society,

                                                Mohhamadpur,

                                                Dhaka,

 

Country:                                    Bangladesh      

 

Tel. No. :                                   880-2-9013656  

 

Fax No. :                                   880-2-9013656

 

Cell:                                          880-1552-377850

 

E-Mail:                                      autoland@bdonline.com

autolandopu@yahoo.com

                                               

Established :                             2000

 

Incorporation No. :                      N/A

 

Incorporation Date:                     N/A

 

Legal Structure:                         The subject is Proprietorship Company

 

Business Type:                          Importer & Supplier

 

Status:                                      Satisfactory

 

Payments:                                No complaints have been heard regarding payments 

                                                from local suppliers or banks.

 

Litigation:                                  NIL

 

 

LOCATIONS

 

Head Office:                              24, Shahid Minar Road,

Kallayanpur,

                                                Dhaka,

Bangladesh

 

Tel. No. :                                  880-2-9013656

 

Fax No. :                                  880-2-9013656

 

E-Mail:                                     autoland@bdonline.com

autolandopu@yahoo.com

 

Branch:                                    House No. 5, Road No. 7,

Nobodya Housing Society,

                                                Mohhamadpur,

                                                Dhaka,

 

Factory:                                    N/A

 

 

PROPRIETOR

 

Name:                                       Kazi Obaidul Hoque

Designation:                             Proprietor

 

 

BUSINESS DETAILS

 

Line of Business:                       Importer & Supplier

 

Items Dealing In:            C.N.G Cyllinder

 

Terms of Sale:               1 Against L/C

 

 

BANKERS

 

Name:                           National Bank Limited

 

Branch:                         Kallayanpur Branch,

 

Address:                       Kallayanpur,

Dhaka

 

The company performs most of the business transactions with the above mentioned bank. No more details were provided.

 

 

FINANCIAL INFORMATION

 

 

 

          2007

2006

 

         2005

Capital Invested

Tk.8 million

Tk.8 million

Tk.7.5 million

Turnover

Tk.30 million

Tk.29.5 million

Tk.29.2 million

Liability

NIL

NIL

NIL

Fixed Assets

Tk.10 million

Tk.10 million

Tk.9.4 million

 

CAPITAL STRUCTURE

 

Authorized Capital

:

N/A

Paid Up Capital

:

N/A

Each Share Value

:

N/A

 

 

 

 

 

EXCHANGE RATE

 

CURRENCY

UNIT

BANGLADESHI TAKA

Great Britain Pound

1

143.7238

U.S Dollar

1

  69.4023

European Euro

1

101.3730

Japanese Yen

1

    0.6176

Australian Dollar

1

  63.2055

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees:                     05

Executives-----------------01  

                                                Quality Control------------01    

                                                Office Staffs---------------03     

                                                 

Office Area:                               650 sq.ft (rented)

 

Warehouse Area:                       1,800  sq.ft.(rented)

 

Range of Items:                         1 C.N.G Cylinder

 

Import From:*                            1 China

1 Italy

 

* The subject refused to reveal the names of their principles.

 

Name of the Group:        NIL

 

Subsidiaries:                 NIL

                                               

Member:                       1 Dhaka Chamber of Commerce & Industries, Dhaka

 

 

COMMENTS

 

The subject is a proprietorship concern engaged in importing and supplying of C.N.G cylinders. The concern is doing a good business as a large number of cars are being converted to C.N.G because of the increasing price of petrol. The quality of their product is good and is of international standard.

 

The proprietor is well conversant in his line of trade and is an experienced businessman. He is reported to be financially solvent and well backed by his banker.

 

The company is good for normal business engagements.

 

 

 

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions